"After some long…hard…thoughts…I’ve decided it’s time for me to let go of my mistress American Idol before she boils my rabbit,” said Steven in an official statement.

“I strayed from my first love, AEROSMITH, and I’m back – but instead of begging on my hands and knees, I’ve got two fists in the air and I’m kicking the door open with my band," he wrote. "The next few years are going to be dedicated to kicking some serious a** — the ultimate in auditory takeover."

Steven continues saying Aerosmith will release their first studio album in 11 years, Music From Another Dimension, on Nov. 6.

"Idol was over-the-top fun, and I loved every minute of it…Now it’s time to bring Rock Back.”

Steven exiting Idol comes right on the heels of Jennifer Lopez demurring on The Today Show that "maybe" it's time for her to go as well.

“I know everybody wants that definite ‘yes’ or ‘no,’ and… all I can let you in on is my own thought process with it, because that’s where I truly am,” she told host Natalie Morales. “But I am thinking that maybe it’s time for me to go and do other things that I really love to do.”

Earlier this week it was rumored former Idol performer Adam Lambert was being considered. Adam called this hearsay "beautiful" and that he'd "absolutely say yes" if offered the seat on the judge's panel.